WHICH CHART IS THE MOST IMPORTANT IN DETERMINING THE NEXT MOVE?
Hello, an important thing to notice. The previous level indicated in the former idea linked below was not meaningful to determine whether BTC future price (the "institutional price) is taking the lead over the spot price from exchanges (the retail price), as BTC crashed many resistances above in its path (if you didn't read it, I suggest to do so first). But we have another one right now. Indeed, in a moment of great indecision in BTC (is really ever existed a moment in which BTC was not :P?) I noticed a nice discrepancy, once again, between futures and spot charts. In the spot the MA200 day is at 7970 almost perfectly coinciding with the 100MA now, and the price seem to actually bounce on a phantom level. On the futures instead, the same average is at 8625, whereas at 7950 we find the 100MA one!
That is a huge difference, even considering the natural 100-like-points difference between the spot and first future price. Considering that the BTC1! price is bouncing on its 200 daily MA,it seems that this chart is more precise now.
Why is that important?
-Well, firstly because it is crucial to watch the correct chart, the one that provides more insights on next moves.
-Secondly, to identify whether the adoption is moving further also among institutional. It is important to know WHO is moving and making the price of an asset before taking any decision on buying or selling and to undertand if BTC is still a retail thing or it is starting to be Wall Street driven.
-Finally, once clarified that, in turn trading decisions can be different.
My personal impression in that from the market crash (actually even few days before) the futures chart is more accurate moving-average-wise.
Very very curious about what will happen in the following days!
Hello, an important thing to notice. The previous level indicated in the former idea linked below was not meaningful to determine whether BTC future price (the "institutional price) is taking the lead over the spot price from exchanges (the retail price), as BTC crashed many resistances above in its path (if you didn't read it, I suggest to do so first). But we have another one right now. Indeed, in a moment of great indecision in BTC (is really ever existed a moment in which BTC was not :P?) I noticed a nice discrepancy, once again, between futures and spot charts. In the spot the MA200 day is at 7970 almost perfectly coinciding with the 100MA now, and the price seem to actually bounce on a phantom level. On the futures instead, the same average is at 8625, whereas at 7950 we find the 100MA one!
That is a huge difference, even considering the natural 100-like-points difference between the spot and first future price. Considering that the BTC1! price is bouncing on its 200 daily MA,it seems that this chart is more precise now.
Why is that important?
-Well, firstly because it is crucial to watch the correct chart, the one that provides more insights on next moves.
-Secondly, to identify whether the adoption is moving further also among institutional. It is important to know WHO is moving and making the price of an asset before taking any decision on buying or selling and to undertand if BTC is still a retail thing or it is starting to be Wall Street driven.
-Finally, once clarified that, in turn trading decisions can be different.
My personal impression in that from the market crash (actually even few days before) the futures chart is more accurate moving-average-wise.
Very very curious about what will happen in the following days!
Comment:
regarldless on whether it will holds or not, the 200MA on futures seems to be the one now :). Even today the price stopped there, while in the spot chart it was on a ghost support. Good!
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Or simply you don't want to risk it?
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